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Foreign-Derived Income Rate Might Not Go Up, Brady Says

Law360, Houston (February 23, 2018, 8:19 PM EST) -- The new U.S. tax law’s reduced rate for the foreign use of domestically held intangible assets such as intellectual property might not increase when it’s currently scheduled to do so, U.S. Rep. Kevin Brady, R-Texas, said Friday at a conference in Houston.

Under the sweeping Tax Cuts and Jobs Act, P.L.115-97, an international provision grants a reduced rate for foreign-derived intangible income, or FDII, of 13.1 percent — compared with the 21 percent corporate income tax rate. The FDII rate is set to increase to 16.4...
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